The fund management firm InCred Asset Management said that it has appointed Mrinal Singh as its CIO & CEO. Most recently, Mrinal was the Deputy CIO at ICICI Prudential AMC.
InCred said that he has been with ICICI Prudential for more than 12 years and proved instrumental in setting up its research processes, product strategy, as well as business & talent development during his journey.
Mrinal spearheaded ICICI Prudential’s equities investment across multiple funds. It generated industry-leading performances with the AUM of the flagship fund directly managed by him growing from $200mn to $2.5bn in a span of 10 years. He has a strong reputation in the market for his research-based stock picking approach and his long-term investment philosophy.
InCred Asset Management earlier appointed fund manager Punita Kumar Sinha as Chairperson, and the acquisition of midcap equity AIF/PMS Vishuddha Capital.
With Mrinal coming on board, InCred Asset Management will aim to provide differentiated investment ideas across asset classes to establish itself in the rapidly growing Indian fund management industry. The aim is to cater to the investment needs of Indian investors both for onshore and offshore products, as well as that of a global audience looking to invest in the India growth story, said the company.
Bhupinder Singh, Founder & CEO of InCred Group, said “Mrinal has a phenomenal reputation in the Indian Asset Management industry. I am confident that with his long-term investment philosophy, focus on delivering sustainable returns over cycles, and passion for business building, we will see InCred Asset Management establish itself as a force to reckon with in the asset management market.“
Following the merger of InCred’s investment banking business with MAPE, and the acquisition of CGS-CIMB securities to create InCred equities, this appointment marks the next major step forward in establishing InCred as a full-service financial platform in India, said the company.